Endowments in higher educational institutions: problems and prospects
The subject of research are theoretical and practical questions of functioning of endowments in higher education. The purpose of the study is to detect current problems of endowment-funds in Ukrainian higher educational institutions and to find ways to solve them. Research methods applied in the work are: methods of comparison, grouping, detail and analytical methods. The results of the work. The article reveals some theoretical and methodical provisions, as well as the economic content of functioning of endowment-funds in higher educational institutions. Preconditions, causes and factors of influence on their formation and functioning of native universities are established. Сurrent state of distribution of endowment’s management practices in the area of higher education in Ukraine at the present stage are characterized. Main reason that necessitate the creation of a sustainable fund in public higher educational institution, which simultaneously acts as well as an obstacle to the dissemination of this method of acquisition and use of funds of philanthropists. Important obstacles to the development of the practice of sustainable funds in higher educational institutions, which are divided into the categories of legal, ethical, political and economic, are outlined. Based on the influence of destimulators that reduce a spread of experience in creation and effective management of endowment-funds in the area of higher education, author vision of their elimination or minimization is proposed. Prospects of future development of endowment’s phenomenon in higher education of Ukraine are summarized. Branch of applying research results are management and financial activities in higher education institutions. Conclusions. Research of the theoretical and methodological foundations, legal regulation and the current state of functioning of existing in the Ukrainian universities sustainable funds allowed us to separate individual difficulties and obstacles to their effective implementation and development. Analysis of the current economic, political, moral and psychological situation in our country allowed to trace the relationship between cause and effect existing today. Based on the detected issues, a few prospects for their solution via discovering few ways to improve the situation in the field of application of the endowment funds’ practice in higher education and the state in general.
2. Shevchenko L. (2015) Endavment-fondy v investytsiyniy stratehii zarubizhnykh universytetiv [Endowment funds in the investment strategy of foreign universities]. Ukraiina: aspekty pratsi - Ukraine: aspects of labor, 1, 8-16 [In Ukrainian].
3. Mahuta O.V. (2016) Metodychni pidkhody do formuvannya tsilovoho kapitalu (endaumentu) dlya innovatyzatsii vyshchoyi osvity v Ukraiini [Methods and approaches to the tartget capital (endowment capital) formation for the innovation of higher education in Ukraine]. Efektyvna ekonomika – Efficient economy, 6. : http://www.m.nayka.com.ua /?op=1&j= efektyvna-konomika&s=ua&z=5050 [In Ukrainian].
4. Rysin M.V., Tsybulska Yu.O. (2015) Dzherela formuvannya kapitalu endavment-fondu vyshchoho navchalnoho zakladu [Sources of capital for higher education institution’s endowment]. Ekonomika ta upravlinnia natsionalnym hospodarstvom – Economy and management of a national economy, 2 (112), 123-127 [In Ukrainian].
5. Osetskyii V.L. (2016) Osoblyvosti vykorystannya endavmentu ta fandreyzynhu v osvitniy praktytsi [Features of using endowments and fundraising in educational practices]. Finansy Ukrayiny – Finance of Ukraine, 3, 86-100 [In Ukrainian].
6. Mokin B. (2012) Endavment-fond yak alternatyvne dzherelo dlya pidvyshchennia finansovoii stiikosti vyshchoho navchalnoho zakladu [Endowment fund as an alternative source to improve the financial sustainability of higher education]. Visnyk Khmel’nyts’koho natsional’noho universytetu – Herald of Khmelnytsky National University, 2, 131-135 [In Ukrainian].
7. Lerner J., Schoar A., Wang J. (2008) Secrets of the Academy: The Drivers of University Endowment Success. The Journal of Economic Perspectives, Vol. 22, Number 3, 207-222 [In English].
8. Brown K., Garlappi L., Tiu C. (2010) Asset allocation and portfolio performance: Evidence from university endowment funds. Journal of Financial Markets, Vol. 13, Issue 2, 268–294 [In English].
9. Zahalnoosvitni navchalni zaklady (1990-2017) [Secondary schools (1990-2017)]. (2017). : http://www.ukrstat.gov.ua. [In Ukrainian].
10. Zakon Ukraiiny «Pro vyshchu osvitu» [Law of Ukraine «On higher education»] (2014). : http://zakon1.rada.gov.ua/ laws/show/1556-18. [In Ukrainian].
11. Zakon Ukraiiny «Pro blahodiinu diyalnist ta blahodiyni orhanizatsiyi» [Law of Ukraine «On charity and charitable organizations»] (2012) : http://zakon4.rada.gov.ua/laws/show/5073-17 [In Ukrainian].
12. Dmytryshyn M.V. (2015) Endavment vyshchoho navchalnoho zakladu [The endowment of the higher educational institution] Aktualni problemy rozvytku ekonomiky rehionu – The actual problems of regional economy development, Vol. 11, Issue 1, 64-73 [In Ukrainian].
13. Fond rozvytku instytutu mizhnarodnyh vidnosyn [The Development Fund of the Institute of International Relations]. : http://iirfund.org. [In Ukrainian].
14. Universytet bankivskoii spravy [Banking university] : http://ubs.edu.ua/ua/. [In Ukrainian].
15. Mizhnarodnyy Blahodiynyy Fond «Vidrodzhennya Kyyevo-Mohylianskoii akademiii» [International Charitable Foundation «Renaissance of Kyiv-Mohyla Academy»] : http://www.fund.ukma.kiev.ua. [In Ukrainian].
16. Vyshchi navchalʹni zaklady (1990-2017) [Higher education institutions (1990-2017)] : http://www.ukrstat.gov.ua/operativ/operativ 2005/osv_rik/osv_u/vuz_u.html [In Ukrainian].
17. Bogolib T.M. (2014) Corruption in Ukrainian society:problem of counteraction to effective development of economy. Public and Municipal Finance, 11, 44-56.
18. Ofitsiinyi kurs hryvni do inozemnykh valyut (serednii za period 2010-2017) [The official exchange rates of foreign currencies (average for the period 2010-2017)] : www.bank.gov.ua/files/ Exchange_r.xls. [In Ukrainian].
19. Skilky hroshey trymayut ukraiintsi «pid matratsamy» [How much money Ukrainians are holding «under mattresses»] : http://businessua.com/suspilstvo/25432skilki-groshei-trimayut-ukainci-pid-matracami.html [In Ukrainian].
20. Yeshkilyev V. Zamknene kolo heroyizmu [Vicious circle of heroism] : http://report.if.ua/gazeta/poglyad/volodymyr-yeshkilyev-zamknene-kolo-geroyizmu [In Ukrainian].
This work is licensed under a Creative Commons Attribution 4.0 International License.